If you’re looking to start a business but don’t know where to begin, you’ve come to the right place. In this article, we will discuss everything you need to know about how to start a sports betting business, including tips on where to begin, types of bets to make, and how to make money.
Choose A Sport
One of the first things you need to do is to decide which sport you want to bet on. There are tons of options, from football to baseball, hockey, and more. If you’re new to betting, start small and build your way up. You don’t want to put all your eggs in one basket, especially when you’re just getting started.
If you’re deciding between football and baseball, for example, you should probably go with the former. The National Football League (NFL) is one of the most popular sports leagues in the world, and American football is one of the most popular sports in the country. The time of day the game is played and whether it’s played outdoors or indoors all factor into the betting odds.
One of the best things about sports betting is that it isn’t very expensive. You’ll need to have a few hundred dollars to a few thousand to get started with a bankroll. Even then, you’ll only need to win a few dollars to cover your costs. Start small and build your way up. Never, ever, put all your eggs in one basket. Spread your bets across different sports and games. And if you want to get serious about sports betting, make sure to read our guide to the best online sportsbooks where you can deposit and wager dollars.
Decide What To Bet On
The main thing to consider when deciding what to bet on is whether you’ll profit or lose from the wagers. For example, if you bet on the Super Bowl and the game ends in a draw, you’ll lose your bet since you didn’t win. But if it’s played to a finish and the Seahawks win the game, you’ll win your bet because you picked the right side. The same goes for all sports. You want to choose sides that are profitable if you’re going to be betting frequently and consistently. When picking teams, you should look for the best overall odds, but you also need to keep an eye on the line-movements to determine if your chosen teams are winning or losing as predicted by the bookmakers.
Join A Sports Bookie Club
One of the best ways to make money in sports betting is to join a sports bookie club. These are organizations that pool their data and give members the advantage of picking games and odds. If you want to get involved in professional sports, this is the best way to do it. You’ll receive daily emails with picks for the day’s games, as well as access to exclusive bonus codes and offers. Plus, you can earn free money just for joining.
Find Games To Bet On
Another important aspect of starting a sports betting business is finding games to bet on. You don’t want to end up with nothing to bet on, do you? Choose a couple of games to start with and build your way up from there. One option is to find a game that’s already established for college football and basketball seasons. These games are often referred to as “blockbusters.” If you’re looking for excitement, go for some of the lesser-known games that are sometimes referred to as “sleeper” games where very few people are expecting much from the outcome. You’ll have a better chance of actually winning your bets if you choose these types of games.
Create Winning Bets
Another important aspect of starting a sports betting business is creating winning bets. Just because you have a good feeling about a game or a team doesn’t mean you can automatically bet on them. To be successful, you’ll need to back your predictions with solid evidence. Research the history of the teams and players involved in the game and create a betting line (the point spread) for each matchup. Doing this will greatly increase your chances of winning. And remember, you’ll never find a sure thing in any sport. Take a look at these betting facts:
- In 2014, only 1 out of every 45 bets was a winning one.
- The largest sum of money gambled on any sports event was $2.6 billion.
- The median winning payout percentage for all sports books is 40%.
- The chance of winning on any specific bet varies between 12% and 38%
If you want to get started, check out our guide to the best online sportsbooks where you can deposit and wager dollars. Using a platform like TrueBill, which provides both banking services and a betting interface, will make it easy for you to get up and running in no time. Once you have your account set up, just log in and make your first wager!